Jharkhand CM discusses ₹11,000 crore green steel investment with Tata Steel at WEF Davos

Jharkhand chief minister Hemant Soren held a series of meetings with industry leaders and international stakeholders on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos, with discussions centred on industrial investment, clean technology and cross-border collaboration.

In a meeting with the senior leadership of Tata Steel, the company reiterated its commitment to invest ₹11,000 crore in Jharkhand under its New Age Green Steel Technology programme. The investment has been formalised through a Letter of Intent and a Cooperation Agreement with the state government, according to officials.

The proposed investment plan includes ₹7,000 crore for the Hirsana Easy and Melt Technology project, ₹1,500 crore for the Combi Mill project and ₹2,600 crore for the expansion of tinplate manufacturing capacity. Officials said the projects are proposed to be implemented using green steel technologies, with technical inputs and innovations from the Netherlands and Germany. The investments are expected to support cleaner production processes and expand Jharkhand’s existing industrial base.

During the interaction, the chief minister outlined the state government’s focus on sustainable industrial growth, adoption of clean technologies and employment generation. Officials indicated that the proposed Tata Steel projects are expected to contribute to capacity expansion in the state’s manufacturing sector while aligning with broader national objectives related to energy transition and climate-resilient development.

Separate meetings were also held with representatives from Hitachi and Tech Mahindra. According to officials, Hitachi presented proposals related to investments in the power sector and high-level grid infrastructure, while Tech Mahindra discussed potential investments in advanced facilities and information technology services. The discussions focused on identifying areas of collaboration and assessing the feasibility of future investments in Jharkhand.

As part of the WEF engagements, Hemant Soren was presented with a White Badge by the Forum, along with a formal Letter of Cooperation. Officials said the cooperation aligns with three thematic areas of the WEF’s Centres of Excellence—Critical Minerals and New Energy, Climate Action and Biodiversity, and Just Energy Transition. Jharkhand’s Vision 2050 framework was discussed in relation to WEF’s focus on inclusive societies, with emphasis on long-term knowledge sharing and institutional partnerships.

International collaboration was also discussed with Swedish stakeholders during the Davos meetings. Following the Jharkhand government’s official visit to Sweden last year, Swedish entities have expressed interest in exploring investment opportunities in urban transport. Officials confirmed that a Sweden–India Roundtable is proposed to be held in April to examine potential collaboration and investment avenues. The chief minister also interacted with Swedish companies that had engaged with Jharkhand during the earlier official visit.

In another engagement, representatives of the World Women Leaders Forum discussed the possibility of partnering with the Jharkhand government to support initiatives aimed at strengthening women’s political leadership, particularly among women from marginalised communities. Proposals included setting up an India chapter of the forum and creating a non-partisan platform of women representatives from different political parties to enable dialogue and capacity-building efforts.

The meetings were attended by Tata Steel managing director and chief executive officer T.V. Narendran; Cecilia Oldne, chief India representative, Sweden India Business Council; Silvana Koch-Mehrin, president, Women Political Leaders Forum; Viraj Mehta from the World Economic Forum; Bharat Kaushal, regional head, Hitachi; and Sahil Dhawan, head and president, IMEA division, Tech Mahindra, among others.

India and several state governments have in recent years used the WEF platform to engage with global investors and institutions on investment opportunities, sustainability-linked projects and policy collaboration, with a number of discussions translating into project proposals and implementation frameworks.